Copper prices surged on Tuesday, touching their strongest levels in over three months as concerns over constrained supply and bullish technical signals continued to support the market.
Three-month copper contracts on the London Metal Exchange climbed 2.7% to $13,943 per metric ton by 1013 GMT, following Monday’s record settlement.
The advance came despite ongoing geopolitical uncertainty linked to the conflict involving Iran. U.S. President Donald Trump said Tuesday that the ceasefire with Tehran was “on life support,” dampening hopes that a peace deal could be reached quickly.
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